Studio confirmed the project Monday, five months after Bulger, the head of Boston’s Winter Hill Gang, was captured in Santa Monica after being on the lam for 16 years. Bulger fled authorities in Boston just before he was indicted in 1995 for federal racketeering.

News of the project was first reported in GQ magazine, which interviewed Damon.

Affleck and Damon will produce under their Pearl Street Films shingle through their first-look deal with Warner Bros. Pearl Street’s Chay Carter will exec produce, and Sarah Schechter is overseeing for the studio.

Affleck’s made three films for Warners — “Gone Baby Gone,” “The Town” and “Argo,” currently in production.

Damon and Affleck, each repped by WME, teamed on the 1997 drama “Good Will Hunting” and won the screenplay Oscar.